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Nasdaq Composite Threatens To Match Longest Losing Streak In 3 Months

The Nasdaq Composite Index is on pace to log its longest stock-market skid--three straight sessions--in more than three months. The tech-heavy index's previous lengthiest slide was the three-day slump ended Dec. 30, according to FactSet data. The Nasdaq has been the best performing equity benchmark among the the S&P 500 index and the Dow Jones Industrial Average since President Donald Trump's election win on Nov. 8, up 13.5%, compared with 10.3% for the broad-market S&P 500 and a 12.6% rise in the Dow over the same period. The recent retreat in stocks and climb in price, pushing yields lower, of the 10-year Treasury note [TPI:BX:TMUBMUSD10Y] is being cited as evidence of a tapering of the so-called Trump trade, or euphoria sparked on the back of the president's promises of implementing a raft of pro-growth policies, like tax-cuts, infrastructure spending and deregulation.